Shannon Commercial Properties, today (Thursday) announced the €3.5 million development of 100,000 sq. ft. of industrial space in the Shannon Free Zone.
This latest announcement means Shannon Commercial Properties is on track to complete the €21m first phase development of the Shannon Free Zone by the end of 2017. The company which is part of Shannon Group plc has embarked on the development of a block of industrial buildings (Bay 37), formerly known as the Boart building, adjoining airport lands.
K&J Townmore Construction Ltd. have been appointed as main contractor and Collins Boyd Engineering Ltd. as project managers for the development of office space, storage, distribution and warehousing on the site. The project will be completed by May of next year and will support 70 jobs during construction.
It adds to the ambitious programme that is delivering significant new advanced manufacturing, warehousing and office space solutions at the Shannon Free Zone to support the drive for inward investment into the region.
Commenting on the initiative Ray O’Driscoll, CEO of Shannon Commercial Properties said “This latest development is another project in what has been a very busy and successful year for Shannon Commercial Properties. Just over 12 months ago we announced our €21 million first phase programme for the redevelopment of the Shannon Free Zone and have already completed over €8 million worth of projects, with another €13 million set for completion in 2017.
He added “This latest commitment ensures we are on target to deliver our programme of creating international standard commercial and industrial space to support the current appetite for investment into this region.”
Shannon Group CEO Matthew Thomas stated “The interest from an inward investment perspective, whether FDI or indigenous, in this region is extremely high right now. We have a very competitive and affordable operating environment, have very strong third level institutions on our doorstep in Galway and Limerick and it’s a great place to live.
“I am really encouraged by the level of commitment and pro-business approach of the City and County Councils in the Mid-West and West coast. Together with IDA Ireland and Enterprise Ireland, there is a shared vision of the potential of our region. Whether it’s the Limerick 2030 plan or the opportunities coming from Galway’s 2020 European Capital of Culture, there is a sense of momentum in the region. Strong regions make for a strong national economy which is hugely important in ensuring balanced regional development.
“To complement their work we need to ensure that we have world-class commercial, industrial, office and warehousing space and that’s exactly what we are doing with Shannon Commercial Properties’ wider development programme here at the Shannon Free Zone, including this latest investment” Thomas concluded.
The launch of Phase 1 of the Shannon Free Zone development last year is paving the way for the biggest single programme of planned investment on the West Coast of Ireland in recent years, in what is one of Ireland’s leading international business parks, employing 7,000 people in over 150 companies.
So far the programme has committed:
- €8 million to a 55,000 sq. ft. Grade A office block office, with the site cleared for construction which is due to begin in January 2017.
- €6 million to a 67,000 sq. ft. advanced technology manufacturing facility extension to the existing GE Sensing building at Shannon Free Zone East – completed April 2016.
- €3.5 million to a 33,000 sq. ft. advance technology manufacturing unit at Shannon Free Zone West (Block E), with construction to be completed by the end of next year
- €1.3 million to the refurbishment of a 56,000 sq. ft. office and warehousing facility at the existing Magellan Aviation Services Ltd building at Shannon Free Zone West – completed January 2016.
- €1 million to the refurbishment of Universal House, a four-storey office block in Shannon Free Zone West – completed November 2016.
In addition to the €21 million investment plan, in early 2017 Shannon Commercial Properties will begin the roll-out of a €3.5 million landscaping and public lighting upgrade at Shannon Free Zone which will be carried out over the next five years.
All pics by Arthur Ellis